UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Grows Stock Holdings in Brown & Brown, Inc. $BRO

Key Points

• UBS Asset Management increased its investment in Brown & Brown, Inc., now holding 1,585,840 shares valued at approximately $197.3 million, after purchasing an additional 19,576 shares in the first quarter.
• Brown & Brown's recent quarterly earnings surpassed expectations, reporting an EPS of $1.03 and revenue of $1.29 billion, which represents a 9.1% year-over-year increase.
• The company also announced a quarterly dividend of $0.15 per share, reflecting a dividend yield of 0.6% and a payout ratio of 17.29%.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 1.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,585,840 shares of the financial services provider's stock after purchasing an additional 19,576 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned approximately 0.55% of Brown & Brown worth $197,278,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Parnassus Investments LLC purchased a new position in Brown & Brown during the 1st quarter worth approximately $899,139,000. GAMMA Investing LLC raised its holdings in shares of Brown & Brown by 13,974.9% during the first quarter. GAMMA Investing LLC now owns 1,112,758 shares of the financial services provider's stock worth $138,427,000 after purchasing an additional 1,104,852 shares during the last quarter. Handelsbanken Fonder AB lifted its position in Brown & Brown by 172.5% during the first quarter. Handelsbanken Fonder AB now owns 1,314,434 shares of the financial services provider's stock valued at $163,516,000 after purchasing an additional 832,100 shares during the period. Nuveen LLC purchased a new stake in Brown & Brown in the first quarter valued at $72,895,000. Finally, Vanguard Group Inc. grew its position in Brown & Brown by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 30,501,119 shares of the financial services provider's stock worth $3,794,339,000 after purchasing an additional 560,980 shares during the period. Hedge funds and other institutional investors own 71.01% of the company's stock.

Brown & Brown Price Performance

Shares of NYSE:BRO traded down $2.63 during midday trading on Monday, reaching $90.91. 1,910,296 shares of the company's stock traded hands, compared to its average volume of 2,544,049. The company has a market cap of $29.99 billion, a P/E ratio of 26.20, a PEG ratio of 2.13 and a beta of 0.81. The company has a fifty day simple moving average of $98.00 and a two-hundred day simple moving average of $108.41. The company has a debt-to-equity ratio of 0.64, a quick ratio of 6.72 and a current ratio of 6.72. Brown & Brown, Inc. has a 1 year low of $90.38 and a 1 year high of $125.68.

Brown & Brown (NYSE:BRO - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.04. The business had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.28 billion. Brown & Brown had a net margin of 19.89% and a return on equity of 15.10%. The company's revenue was up 9.1% compared to the same quarter last year. During the same period last year, the firm posted $0.93 earnings per share. Equities analysts predict that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 20th. Shareholders of record on Wednesday, August 13th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, August 13th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.7%. Brown & Brown's dividend payout ratio is presently 17.29%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BRO. Morgan Stanley decreased their price objective on Brown & Brown from $109.00 to $105.00 and set an "equal weight" rating for the company in a report on Monday, August 18th. Citigroup assumed coverage on Brown & Brown in a report on Wednesday, August 13th. They issued a "buy" rating and a $112.00 price target for the company. BMO Capital Markets dropped their price objective on shares of Brown & Brown from $122.00 to $106.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 30th. Wall Street Zen cut shares of Brown & Brown from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Finally, Argus reissued a "hold" rating on shares of Brown & Brown in a report on Thursday, July 31st. Seven equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $112.64.

Insider Activity at Brown & Brown

In other news, Director Paul J. Krump purchased 2,678 shares of the stock in a transaction dated Friday, August 8th. The shares were purchased at an average cost of $93.31 per share, with a total value of $249,884.18. Following the completion of the purchase, the director directly owned 5,353 shares of the company's stock, valued at approximately $499,488.43. The trade was a 100.11% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Bronislaw Edmund Masojada acquired 1,000 shares of Brown & Brown stock in a transaction that occurred on Wednesday, August 6th. The stock was purchased at an average cost of $91.44 per share, with a total value of $91,440.00. Following the completion of the purchase, the director owned 5,000 shares in the company, valued at $457,200. The trade was a 25.00% increase in their position. The disclosure for this purchase can be found here. Company insiders own 17.02% of the company's stock.

Brown & Brown Company Profile

Brown & Brown, Inc is an insurance agency, wholesale brokerage, insurance program and service organization. It engages in the provision of insurance brokerage services and casualty insurance underwriting services. It operates through the following segments: Retail, National Programs, Wholesale Brokerage, and Services.